Mermaid Marine Australia (MRM)

Although they might be pulling back from record highs earlier this year, shares in
Mermaid Marine Australia
, the country’s largest integrated marine services provider, are achieving eye-catching returns. Over the past 12 months the stock gained about 24 per cent, outperforming the broader market. The company expects to obtain its fair share of the $17 billion it anticipates oil and gas producers to spend on development of the North West Shelf, Browse Basin and Timor Sea regions over the next seven years. Earlier this month it was awarded contracts worth $60 million to support Woodside Petroleum’s operations in the North West Shelf. With about 180 employees, industrial relations are becoming an issue for the company. On Friday it revealed 30 employees at its Dampier supply base will stop work for two 24-hour periods and put a ban on all overtime work, as negotiations over a new enterprise bargaining agreement continue.